Polaris Inc.

PII Consumer Cyclical Recreational Vehicles

Polaris Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, roughly unchanged from fiscal 2024.

Revenue
+10.9%
EPS
+339.3%
Free cash flow
+170.2%
Total debt
+22.6%

Quarter to September 2026, against a year earlier

64.80 2.90 −4.28%
Market cap
$3.7B
P/E
0.0×
Fwd P/E
28.3×
Dividend yield
4.18%
F-score
4/9
Altman Z
1.61
Beneish M
−3.47
Dividend safety
45/100

Polaris Inc. (PII) Free cash flow margin

Alert me on Free cash flow margin

Polaris Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 3.47%, down 4.3 percentage points from fiscal 2025 (7.80%). Over the past ten years it has ranged from 0.09% (fiscal 2024) to 13.0% (fiscal 2020); the current reading is higher than 82% of that period. That is below the Recreational Vehicles industry median of 5.37% and above the Consumer Cyclical sector median of 3.20%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 7.80% 7.71
FY2024 0.09% (5.65)
FY2023 5.74% 3.39
FY2022 2.35% 2.20
FY2021 0.15% (12.81)
FY2020 13.0% 7.01
FY2019 5.95% 1.81
FY2018 4.14% (3.25)
FY2017 7.39% (1.03)
FY2016 8.42% 4.38

Against its own ten years

Low 0.09% High 13.0%
Ten-year median 5.74%
Current reading's percentile 82

Free cash flow margin against peers

Company Free cash flow margin
DOO BRP Inc. compare 12.7%
LCII LCI Industries compare 7.93%
HOG Harley-Davidson, Inc. compare 7.83%
BC Brunswick Corporation compare 6.79%
MCFT MASTERCRAFT BOAT HOLDINGS, INC. compare 6.41%
WGO Winnebago Industries, Inc. compare 5.55%
PATK Patrick Industries, Inc. compare 5.18%
PII Polaris Inc. 3.47%
THO Thor Industries, Inc. compare 2.46%
Recreational Vehicles industry median 5.37%
Consumer Cyclical sector median 3.20%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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